The Far East markets are getting crushed today, down as much as 3%. No doubt the markets are still spooked from the collapse of the Euro. By the way, the Euro in my opinion is doomed (see the theEconomicAnalyst.blogspot.com blog for more on that). Anyhow, this should make for an interesting week. I will probably be doing some light trimming of the portfolio, probably selling one of my four REITs that I hold.
I am not really reacting to the mania of the markets just yet. I just like to buy stocks low and ideally hold forever, only selling when I see a screaming bargain in another stock or when a stock is overbought. I would prefer that the Dow return to the 6,000 level so I can make a killing by taking long positions in some absolute bargains. Why? Because I do not short, nor employ leverage, I just do what I am comfortable with doing and like Wayne Gretzky says 'skate to where the puck is going to be, not where it has been.' In my case I am having the stock prices come to me rather than chasing them around like I would with a hot gal!
If I see another 10% pull back, I may do some stock reallocation. Just nothing really interests me at the moment as I am fully invested.
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